Last year, 695 new flats were sold in Prague 9, which is the highest number of all districts of the metropolis. A few dozen fewer were sold in Prague 5 and over 500 flats were purchased in Prague 4. In total, almost 60% of all 3,100 new flats sold in these three districts found their owners. Seven out of ten sales were of smaller flats 1 + kk and 2 + kk, which are increasingly in demand due to the growing share of one- and two-person households and poor housing affordability. This is shown by a fresh analysis by Central Group, Trigema and Skanska.
In the ninth, fifth and fourth districts of Prague, there are many brownfields, which are the future of Prague’s construction development. Building on these former industrial sites inside the city has made it possible to provide new housing without the metropolis expanding into the surrounding countryside.
Prague 9 is the most dynamic district in the long term. Thanks to the development of brownfields by private investors, almost a quarter of all 137,000 flats in the metropolis are in the pipeline. This is also reflected in fresh data. In addition to being the number one city for new flats sold in 2022, Prague 9 had the largest supply of projects at the end of the year.
“The number of permitted apartments in Prague 9 has exceeded 10,000 over the last 10 years. This is almost a third of all the roughly 35,000 apartments that have been permitted in the entire metropolis over the same period. Therefore, Prague 9 can offer flats at a more favourable price than some other city districts. Last year, Central Group started building the Tesla Hloubětín project here, which is the best-selling residential project in Prague and one of the largest residential projects today,” says Michaela Tomášková, Executive Director of Central Group.
Last year, 648 new flats were sold in Prague 5, more than a fifth of the total number. In the previous year, which was a record year for sales, the share of apartments sold in this city district was the highest – it climbed to 1,367 (over 18%). Prague 4 was the second strongest in 2021 with 1,306 apartments sold and Prague 9 was third with 1,277 apartments sold. In total, 7,450 new flats were sold in 2021, down 60% from a year later.
Sales are increasingly driven by smaller apartments
Over two-thirds of sales last year were apartments with a layout of 1+kk and 2+kk. The growing demand for small flats corresponds to the demographic development in developed countries, including the Czech Republic, where the share of one- and two-person households is still growing.
Most new flats were sold in Prague 9 last year.
Prague, February 23, 2023 – 695 new flats were sold in Prague 9 last year, the most of any district in the capital. A few dozen fewer were sold in Prague 5 and over 500 flats were bought in Prague 4. In total, almost 60% of all 3,100 new flats sold in these three districts found their owners. Seven out of ten sales were of smaller flats 1 + kk and 2 + kk, which are increasingly in demand due to the growing share of one- and two-person households and poor housing affordability. This is shown by a fresh analysis by Central Group, Trigema and Skanska.
Sales of new flats in Prague (2022)
Source.
Prague’s ninth, fifth and fourth districts are home to many brownfield sites, which are the future of Prague’s construction development. Building on these former industrial sites inside the city has made it possible to provide new housing without the metropolis expanding into the surrounding countryside.
Prague 9 is the most dynamic district in the long term. Thanks to the development of brownfields by private investors, almost a quarter of all 137,000 flats in the metropolis are in the pipeline. This is also reflected in fresh data. In addition to being the number one city for new flats sold in 2022, Prague 9 had the largest supply of projects at the end of the year.
“The number of permitted apartments in Prague 9 has exceeded 10,000 over the last 10 years. This is almost a third of all the roughly 35,000 apartments that have been permitted in the entire metropolis over the same period. Therefore, Prague 9 can offer flats at a more favourable price than some other city districts. Last year, Central Group started building the Tesla Hloubětín project here, which is the best-selling residential project in Prague and one of the largest residential projects today,” says Michaela Tomášková, Executive Director of Central Group.
Last year, 648 new flats were sold in Prague 5, more than a fifth of the total number. In the previous year, which was a record year for sales, the share of apartments sold in this city district was the highest – it climbed to 1,367 (over 18%). Prague 4 was the second strongest in 2021 with 1,306 apartments sold and Prague 9 was third with 1,277 apartments sold. In total, 7,450 new flats were sold in 2021, down 60% from a year later.
Sales are increasingly driven by smaller apartments:
Over two-thirds of sales last year were apartments with a layout of 1+kk and 2+kk. The growing demand for small flats corresponds to the demographic development in developed countries, including the Czech Republic, where the share of one- and two-person households is still growing.
Sales of new flats in Prague by layout (year 2022)
This trend was confirmed by the results of the Census of Population, Houses and Flats 2021 published recently by the Czech Statistical Office. According to them, the share of people living alone has risen to almost 36 percent. With one exception, the share of single-person households was the highest in all regions. It was the highest ever in Prague, where it reached almost 44% and, combined with the share of two-person households, even a record 73%.
“We have been registering higher demand for smaller flats for a long time and this trend is still growing. While still in 2016, around 60% of small flats were sold, last year it was still 10 percentage points higher. We are accommodating our customers and currently have around 420 apartments with a layout of 1 + kk or 2 + kk in six locations throughout Prague,” Tomášková comments.
Smaller units have been pulling demand for a long time also due to the intense growth in prices of new apartments in recent years and in connection with the poor availability of housing throughout the country. In addition, small apartments also have on average better investment returns than large ones, which increases their attractiveness for buyers.
Source: Central Group, Trigema and Skanska
